Wenner Media puts Rolling Stone up for sale

Wenner Media said it is exploring strategic options for its majority interest in Rolling Stone magazine, as the New York-based publisher continues to shift from its print mediaജ business amid falling ad revenues.

The company recently sold its two other magazines, Us Weekly in March and Men’s Journal in June, highlighting the struggles of the industry as advertising revenueꩵs fall in an increasingly competitive online age.

Last year, Singapore’s BandLab Technologies bought a 49 percent stake in Rolling Stone.

Rolling Stone, the top b༒rand in music publishing, brings out 12 international editions in Australia, Argentina, Brazil, Colombia, France, Germany, India, Indonesia, Italy, Japan, Mexico and Russia, and says it reaches an audience of ov🌠er 65 million people.

The magazine is also known foꦚr edgy reporting typified by correspondents like Matt Taibbi, who skewered Wall Stre🧸et titans during the global financial crisis, and the late Hunter S. Thompson, originator of the gonzo style of first-person journalism.

Wenner Media retained Methuselah Advisors as🌺 its financial adviser for the process,🍃 it said late Sunday.

With Reuters